Gungnir Resources Inc has reported results from a newly completed ground electromagnetic (EM) geophysical survey over a portion of its high-grade Lappvattnet nickel project in Sweden.
The Canadian-based mineral exploration company said the survey results highlight a near-surface, untested EM conductor located 100 metres (m) north of its Lappvattnet massive sulphide deposit. The untested conductor shares a "twin" signature to that over the Lappvattnet deposit, it added.
"Outlining a compelling EM target right beside a high-grade nickel sulphide deposit is definitely a nice bonus adding further upside potential at Lappvattnet,” CEO Jari Paakki said in a statement.
“The geophysical results will now be incorporated into planning of our 2022 drilling program which will be focused on extending and targeting further high-grade nickel shoots, building upon our successful 2021 drill campaign,” he added.
READ: Gungnir Resources to start geophysics at Rormyrberget nickel deposit
Gungnir said the Slingram survey, completed in late 2021 with final results received during the first week of February 2022, outlined three main conductors. The EM signature over the Lappvattnet deposit, which has a strike length of approximately 800m, consists of a prominent conductor along the western, shallowest part of the deposit, and becomes weaker and "spotty" along strike to the east where the deposit plunges shallowly to depth.
A very similar, parallel "twin" EM signature occurs approximately 100m to the north. This conductor has not been drill-tested based on available data. A third, thinner and more continuous conductor, south of Lappvattnet, is attributed to sedimentary origin (graphite) and is confirmed in drill core.
The company said the first-phase drill program at Lappvattnet delivered consistent shallow drill hits of high-grade and wide-grade nickel mineralization. Fourteen of the 15 holes drilled demonstrated continuity of the inferred resource, ten of which expanded nickel mineralization outside of the 2020 resource block.
The drill program also importantly provided key structural information to help guide the next phase of drilling. Some highlights assays from 2021 include:
- 3.19% nickel over 4.25m within a 10.4m interval grading 1.51% nickel in drill hole LAP21-02;
- 2.62% nickel over 5.65m within a 14m interval grading 1.40% nickel in drill hole LAP21-05;
- 36m grading 0.93% nickel in drill hole LAP21-04.
Gungnir's nickel resources in Sweden include Lappvattnet and Rormyrberget.
In 2020, the company updated both resources which collectively total 177 million pounds of nickel. The properties are accessible year-round with good transportation and industrial infrastructure including shipping facilities and are located about an hour drive from Boliden's mill complex.
Contact the author at stephen.gunnion@proactiveinvestors.com